More transactions in the real estate market in Hong Kong are appearing. Buyers bet on Lugang to restore customs clearance will help more capital flow into Hong Kong and promote recovery.
Bloomberg reported that according to the data of the United States, as of the week of January 1, the transaction volume of 35 major residential projects leapt 31%compared with the previous seven days, and touched the eight -month high.This increase is a encouraging sign. According to data tracked by Central Plains Real Estate, last year, the total sales of new housing and second -hand housing in Hong Kong fell to the lowest level since 1996.
Mainland China and Hong Kong have gradually resumed customs clearance since January 8. Previously, because both places seemed to have a dynamics of epidemic prevention, the ports have actually closed since the beginning of 2020.
Sammy Po, CEO of the Housing Department of the United Property, said that the confirmation of the first stage of customs clearance can facilitate the exchange between the mainland and Hong Kong to bring the long -lost mainland capital to Hong Kong.This will stimulate the rise in asset prices.
The registration of second -hand housing transactions is expected to reach a seven -month high in January.
Peng Wenhao, director of sales in the high -end area of the United Property, said that a family financial management room with a Chinese background has purchased more than 10 units for about 100 million Hong Kong dollars (about $ 17.05 million) in recent weeks.
Peng Wenhao said that the buyer has been looking for nearly five months, and the news of restoring customs clearance helps him to make a purchase decision.He added that they believe that talent flow and economic activities between the two places will rise quickly.
Some analysts have rejected the Hong Kong residential market.Morgan Stanley predicts that with the time of interest rates and the relaxation of travel restriction measures, the loss of talents will be reduced, and the market will be supported in the next year.The company said that house prices will bottom out in the second quarter and will eventually rise by 5%throughout the year.
There are more optimism for the overall economy.The mid -value medium value of the 12 economists surveyed by Bloomberg last week showed that the economy of Hong Kong is expected to increase by 3.3%in 2023, which is higher than the expected 2.7%of the 25 economists in the survey in November.
But the report mentioned that it is too early to say that the real estate market is about to recover.It is unclear how many mainland capitals will flow into the real estate market after the customs clearance.Under the rise in borrowing costs and economic atrophy, the price of second -hand housing in Hong Kong fell by about 16%last year.
However, the real estate industry and the government are optimistic.In a blog post on the first day of 2023, Chen Maobo, the director of the Hong Kong Financial Secretary, said that although the estimated interest rate will continue to rise, customs clearance with the mainland will help boost the property market atmosphere.
